Why is it beneficial to contact you?

We are familiar with the market neighborhoods and region, and have access to experienced and reliable real estate professionals. Our services can save you a lot of time and frustration. Many Canadians would like to invest in Florida but they do not know where to start – we offer free advice, area MLS, listings and reports, and connect you with a reputable Buyer’s Agent. There is no obligation and our services are free.

Why is it a good time to buy real estate in Southwest Florida?

Studies show that 76 million baby boomers are starting to retire now and will continue for the next ten years. With the Southern tip of Florida being the only subtropical area in the continental United States, we expect real estate demand in Southwest Florida to be robust and prices to appreciate. Buyers that desire this area should consider buying now for future retirement or investors for appreciation potential.

What area do you specialize in?

We specialize in South West Florida’s Collier and Lee counties including Fort Myers, Naples, Marco Island, Bonita Springs, Estero, Sanibel Island, Captiva Island, Cape Coral and Lehigh Acres. See the area information page for more information.

If you are looking at other areas do not hesitate to contact us, as we are part of a Realtor’s network and work with agents in other parts of Florida.

Why is South West Florida desirable?

The historical appreciation rate is between 14-20%.

Subtropical weather, beautiful white sandy beaches, fabulous sunsets, boaters paradise and it’s the golfing capital of the world!

Why have a Buyer’s Agent?

A buyer’s agent works in only your best interest, not the seller’s. The seller pays the commission therefore the service is free of charge for buyers. Having a knowledgeable agent, experienced with foreign buyers, short sales and foreclosures can save you lots of money and headaches.

Who pays for services of a Buyer’s Agent?

The of  seller pays the sales commission. The seller is hiring the services of real estate professionals to find a willing and able buyer for the property. Your Buyer’s Agent will assist you to find you the best possible property with the best possible price.

I am not in town, how can I look for properties?

We can set you up with access to local MLS so you can search all of the available properties yourself to get to know the market. If you see a property online that looks very promising, we can provide a video tour of the entire property, inside and out, and the surrounding neighborhood.  This will save valuable time and money by eliminating a trip to view property in person. If possible, it is best to come down to Florida at least initially to look at the various properties and areas – even if an offer does not get accepted while you are in town…you will narrow down the type of property, cost and the area that you are looking for so if an interesting property comes up, you can even put an offer on it remotely. Keep in mind, most agreements are subject to an inspection condition (usually 14 days) so that gives you time to come down and check the property once an offer is conditionally accepted by the seller.

How do I know if a property will make a good investment?

Your Realtor can help you determine this. Initially, you may want to estimate and add up your total annual costs for maintaining the property versus the annual rent that you can obtain.

When making an offer, what deposit is required?

In most cases the minimum initial deposit is usually $5,000. A second deposit is usually due within days of the acceptance of the offer. For a regular sale, a personal check is usually sufficient, however bank-owned properties may require a certified check and a letter from your bank showing financing approval or proof of cash funds.

What is the Buyer’s Right of Recission, when purchasing a condo in Florida?

By Florida Law, the buyer has a 3 day right of rescission on a resale condominium property and a 15 day right of rescission on a new condominium property. The right of rescission period is in business days, excluding weekends and holidays, and starts upon the receipt of the condo documents, after signing the purchase agreement, During the rescission period the buyer may decide to back out of the deal and get the initial deposit back. The rescission period is the time for the buyer to read the association documents, including the financial statements, and determine whether they desire to go forward. A 3-day rescission period also applies to the purchase of a resale single family home in a community with a homeowners association.

How much are the closing costs?

It is good to estimate about 1.5% (paying cash) to 3% (with new mortgage) of the purchase price. Annual property taxes as a percent of the purchase price are estimated at 1.25% in Collier County and 1.5% in Lee County.

Will I pay sales tax when buying a property in Southwest Florida?

No. There are fees due at closing and fees do vary if you are paying cash for the purchase or if you are financing. However, closing costs are the same for Canadians as they are for anyone buying Florida property.

Is it true non US citizens are discriminated and have to pay higher property taxes?

No, the property tax rate has nothing to do with your citizenship, but if you are not using the property as your primary residence (non homestead) you do not qualify for certain discounts on property taxes. See the property taxes section for more information.

What are the tax implications for Foreign Buyers?

Foreign buyers, same as US citizens, will be subject to various state and county taxes at the time of purchase, annual taxes based on the value of the property, and on gains (the selling price less the original purchase price) when the property is sold.

Foreign buyers are also eligible to defer the tax on gains when they sell, by doing what is called a 1031 exchange. A 1031 exchange may be available when you sell an investment property held for over one year, and then purchase another within a specific time frame. It permits the gain from the property sold to be deferred from taxes, until such future date that the new property is eventually sold. Very specific rules need to be followed, but several companies are available to help coordinate the 1031 exchanges for a low fee.

What are the tax implications for Foreign Sellers?

Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), requires that an amount equal to 10% of the selling price be withheld from a foreign seller of real estate. This amount is withheld to cover the potential taxes on the gain, but the 10% withheld can be much higher than the actual amount of tax due. The foreign seller will then need to file for a tax refund to collect the excess amount of taxes withheld. Some advance paperwork filings can reduced the amount withheld, the wait for the refund and other hassles. I recommend that shortly after the original purchase of real estate, a foreign buyer talk with an accountant, get a tax id number, and be prepare for the future. Eventually a foreign buyer will end up selling, so it is best to plan in advance.

Can Canadians Get a Loan to Purchase Southwest Florida Property?

Yes. There are several ways to finance your real estate purchase in Florida. One is through traditional channels in your local Province. For example, Royal Bank of Canada (RBC) offers home loans and has a local branch in Fort Myers. We also can put you in touch with local lenders that offer what is called a “foreign national” loan.  Many Canadians leverage equity in their Canadian real estate to take out a home equity loan to finance their real estate purchase here.

Is homeowners insurance difficult to get?

Buying homeowners insurance in Southwest Florida is straightforward. If you are considering buying a single family home directly on the Gulf of Mexico (directly on the beach) it might be a bit more difficult, but insurance is available.

Do you offer any property management services?

Yes, our local Realtor has a property management designation and offers rental services, home visits, maintenance, etc. We can help you determine the costs for maintaining an investment property outside of your area of residence.

What is a CDD?

Some large master planned communities in Southwest Florida have a Community Development District (CDD). A CDD is a special district with the authority to levy assessments on property owners. Typically, a CDD is used to provide infrastructure that will be paid for later by the homeowners over a number of years. The annual payment on the CDD is attached to the home owners annual tax bill. A resale property may have the CDD paid off, but almost all new home buyers within those CDD communities will have a CDD balance owed. The CDD can be paid off at any time.

Can you recommend real estate professionals in your area?

Yes, we work with various real estate professionals, such as appraisers, title companies, lawyers, Realtors, property managers and contractors, who we know personally to be knowledgeable and reliable.